A Customer Makes a Savings Deposit for 45 Days

question 71

Multiple Choice

A customer makes a savings deposit for 45 days.During that time he earns $5 in interest and maintains an average daily balance of $1,000.What is the annual percentage yield on this savings account?

• A)0.5%
• B)4.13%
• C)4.07%
• D)4.5%
• E)None of the options is correct

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Definitions:

Family Environment

encompasses the social and emotional atmosphere in which a person grows up or lives, including relationships with family members and the way family functions.

Personality Development

The growth and development of the aspects of a person's character and psychological makeup over time.

Adopted Children

Young individuals who have been legally taken into a family that is not their biological relatives, gaining all the rights and privileges of a biological child.

Psychogenic

Originating from psychological factors rather than physical causes.